Report puts state among worst-run in nation — again

Illinois is — once again — near the bottom of another list that ranks well run and poorly run states, coming in at 43 in a report from 24/7 Wall Street.

By now, Illinois residents are used to these kind of headlines.

The 24/7 Wall Street report focuses on Illinois’ credit rating, which it says is the worst in the country for good reason.

“Decades of budgetary mismanagement left the state unable to pay for many services and pension obligations,” the report said. “Due to the state’s ongoing budget woes, Moody’s is threatening to further downgrade Illinois’ rating. Such a move would make Illinois the first and only state with a junk credit rating.”

State Rep. Dave McSweeney, R-Barrington Hills, said taxpayers should blame the people now in Springfield, and the ones who came before them, for the state’s fiscal woes.

“The good news is that we have the best people, the best natural resources, and the best potential as a state,” McSweeney said. “The bad news is that we have terrible politicians who create terrible policy.”

The 24/7 Wall Street report ranks all of Illinois’ neighbors higher. Michigan is the 16th best-run state. The report grades states on jobs, credit rating, pension debt, and poverty levels.

McSweeney said those measurements ignore Illinois’ other glaring weakness.

“Taxes are the big problem here in Illinois,” McSweeney said. “Not just the income tax increase. But property taxes and sales taxes. We have one of the highest tax burdens in the country when you combine everything together.”

Illinois’ property taxes have been ranking among the highest in the nation, something that could put Illinois lower than 43rd, were it considered in the report.

Only states with crushing poverty, and New Jersey because of its worst in the nation pension system, are ranked lower than Illinois in the new report.